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The internet has been set ablaze by the leaks of Oblivion Remastered, especially since neither Microsoft nor Bethesda has officially recognized the title.
Despite the lack of official confirmation, the remaster of Oblivion is undoubtedly real, as the leaked images came from the developer of the game Virtuous's website. The images showed a side-by-side comparison between the old 2006 game and the upcoming remastered version. It should be noted this isn't a Remake, but a Remaster, meaning we can expect the same game with visual and performance upgrades, modernized combat, stealth, and many of the same original elements and engine quirks. That doesn't rule out the possibility of additional content, just makes it less likely.
So, where is Oblivion Remastered going to land when it launches? The leaks indicate it will be coming to PC, Xbox, and PS5. However, Bethesda hasn't confirmed that. But, we can assume it will at the very least be arriving on PC and Xbox via Game Pass, considering Microsoft now owns Bethesda.

As for PS5, Xbox has had a stance for quite some time that it's happy to bring its titles over to the competing platform, even its first-party titles, such as Indiana Jones and the Great Circle, which just launched on PS5 this week.

According to gaming industry insider Jeff Grubb, rumors have pegged Oblivion Remastered to launch the week of April 21. As for the form it will release in, reports indicate it will be a digital-only product, as typically remastered titles don't get physical releases.
